The sources of cybersecurity threats in cryptocurrency

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dc.contributor.authorKramer Marius
dc.contributor.authorKaartemo Valtteri
dc.contributor.organizationfi=kansainvälinen liiketoiminta|en=International Business|
dc.contributor.organization-code1.2.246.10.2458963.20.72646005131
dc.converis.publication-id50501098
dc.converis.urlhttps://research.utu.fi/converis/portal/Publication/50501098
dc.date.accessioned2022-10-27T12:20:09Z
dc.date.available2022-10-27T12:20:09Z
dc.description.abstract<p>This chapter aims to increase the understanding on the sources of cybersecurity threats in cryptocurrency. It reviews the extant literature to identify the most common sources of cybersecurity threats in cryptocurrency literature, more specifically those of 51 percent attacks, sybil attacks, eclipse attacks and spam attacks. In addition to reviewing the literature, the chapter provides illustrative examples of the attacks and methods to prevent the attacks. It presents future research avenues to improve cybersecurity in cryptocurrency. The threat of 51% attack can be fixed with new hybrids that combine proof-of-work with PoS. There can also be side-chain scaling that prevents 51% attacks, or more voting power can be given to trustworthy nodes. PoW-only coins can introduce new rules that restrict the size of large mining pools to 5 percent of the entire hash rate. The chapter highlights that too many cryptocurrency projects rely on trust and good faith in lead developers and pools.</p>
dc.format.pagerange45
dc.format.pagerange50
dc.identifier.eisbn978-0-429-20042-7
dc.identifier.isbn978-0-367-19103-0
dc.identifier.olddbid174809
dc.identifier.oldhandle10024/157903
dc.identifier.urihttps://www.utupub.fi/handle/11111/34906
dc.identifier.urnURN:NBN:fi-fe2021042823244
dc.language.isoen
dc.okm.affiliatedauthorKaartemo, Valtteri
dc.okm.discipline512 Business and managementen_GB
dc.okm.discipline512 Liiketaloustiedefi_FI
dc.okm.internationalcopublicationinternational co-publication
dc.okm.internationalityInternational publication
dc.okm.typeA3 Book
dc.publisherRoutledge
dc.publisher.countryUnited Kingdomen_GB
dc.publisher.countryBritanniafi_FI
dc.publisher.country-codeGB
dc.publisher.isbn978-1-4724;978-0-203;978-0-415;978-0-7007;978-0-7103;978-0-7146;978-1-134;978-1-135;978-1-136;978-1-138;978-1-315;978-1-317;978-1-351;978-1-84169;978-1-84872;978-1-84893;978-0-8153;978-0-429;978-0-367;978-1-003;978-1-000;978-1-032;978-0-367;978-0-429
dc.relation.doi10.4324/9780429200427-8
dc.source.identifierhttps://www.utupub.fi/handle/10024/157903
dc.titleThe sources of cybersecurity threats in cryptocurrency
dc.title.bookThe Economics of Cryptocurrencies
dc.year.issued2021

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